Hutchison Port Holdings (HPH), the Hong Kong-based port investor, developer and operator, has announced that a consortium led by the group has been named as the preferred bidder for the development of new container facilities at the Port of Thessaloniki.

The Board of Thessaloniki Port Authority is said to be on the verge of accepting the consortium's €419m bid to oversee the upgrade of Greece's second largest port.

It's location in the north of the country proved a major attraction to the HPH-led consortium, which said in a statement: 'This location ensures the port will benefit from the economic development of the Balkan countries and their accession to the EU, especially in
terms of transit cargo.'

'We are pleased with the port authority's decision and support the government's long-term plan to develop a modern container-handling facility at Thessaloniki,' said HPH managing director John Meredith. 'Building on recent strong throughput growth and the rapid development of the hinterland, the port is well-positioned to be a gateway to the Balkans.'

The Port currently has an area of 35ha, a total quay length of 595m and a depth alongside of 12m. When construction is complete, the port is expected to boast a 71ha area, a continuous quay of 1,770m and a depth alongside of up to 15.8m.

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